Think like a peddler and act like a merchant
“Experts in the financial sector have great added value. Their solid professional knowledge determines the financial scope of families. That may well cost a bit.”
Hans Ruinemans is a communications strategist and entrepreneur for over two decades. As a consultant, he advised hundreds of organizations in Europe and beyond. He taught e-Business, marketing and brand management at the Academy for Management and is the author of two books. Hans Ruinemans researched and used social media when it was not yet called that, and, according to himself, never lost his critical eye. “There are hypes, that is true. But keeping up with developments and continuing to think like a merchant is a prerequisite for growth.”
Restoring trust. Mortgage advisors and financial planners agree that this is what the sector is all about. According to Hans Ruinemans, the price of the damage to the image in the financial sector is being recovered from the independent financial service providers. “I recently ordered a technician for the air conditioning in our office. The best man barely had half an hour of work on the maintenance, and I received an invoice for almost a hundred euros. I pay that without complaining, because I want to be able to cool without problems all summer long.
The contrast with Arend, my pension advisor, is unbridgeable. Although Arend charges seven times as much, I will earn back his advice in no more than three months. And as I understand it, Arend spends a full working day working on the report in accordance with the laws and regulations. The invoice of seven hundred euros is theoretically too little and a blow to the head. Arend has difficulty thinking like a merchant and asking for the full amount.”
As a strategist, Hans Ruinemans looked behind the scenes at several large banks. That was partly before 2008; the year in which things shifted. “When advising the board I sat across from people of flesh and blood. Men and women with strengths and weaknesses. I too underestimated the dramatic effect of human weaknesses. The price of damage to our image is high. The big banks will keep rolling. Ultimately, we have become addicted to them. It is the accessible financial service provider that is being held accountable for the chaos of the banking giants. The mortgage advisor, the financial planner. And Arend, my pension advisor.”
“Financial professionals are suspect from the outset. Only their attitude can ward off suspicions. They must radiate strength in their entire conduct. The invoice must be handed over with self-confidence. Not only the hours must be calculated, but also the value. Every economics student can see that seven hundred euros is too little. Hans Ruinemans himself says that he has a soft spot for small entrepreneurs. “The financial service provider contributes to the proper functioning of economic traffic. Their profession is of great importance to the economy. The damaged image cannot be blamed on someone like Arend. He does not have to pay the price for it. In short; the financial service provider must stand his or her back straight. Quality may cost something.”
That the financial professional is an entrepreneur is beyond any discussion. According to Hans Ruinemans, he or she must think like a peddler and act like a merchant. “Attract attention, make noise, go out. A flying crow always catches something. That does not mean that you have to go to all networking drinks and open coffees from today. Preferably not. But you do have to show yourself. Show your expertise.
Write letters to the editor of the newspaper. Go to lectures and symposia, arrange a meeting with the most prominent speaker. Participate in the local business association. Visit the local Rotary or a BNIpower breakfast. As a merchant, ask your best customers to become your ambassador and have them write a recommendation for your website. Give away gifts via Facebook. Write columns and blogs. In short: be the local hero of your field. There is so much to think of. The most frequently mentioned expert is usually not your best professional brother or sister. But the most striking.”
It is not surprising that Hans Ruinemans is convinced of the usefulness of social media. “People seek contact with other people, and social media helps with that. Financial experts represent their organization in person. Their business revolves around themselves. So who they are matters. Social media is a tool to get that message across. That message is that your advice is sound, and that the consumer really benefits from your expertise.
Social media are not a one-hit wonder. It has nothing to do with hype, according to Hans Ruinemans. “It has to do with helping. Twitter, Facebook, Instagram, Google Plus, it's all here to stay. And very manageable. You don't have to throw yourself into everything. Make sure you are aware of what is there, and choose what fits your role as a merchant. The costs are extremely low, the reach is exceptionally large.
For example, you can perfectly show your expertise via YouTube. You don't have to be an actor for that. On a drizzly Sunday afternoon, you record a series of mini-lectures, together with your teenage son. The Googling consumer sees your involvement, hears your professional skills and knows your face. And advertising via Facebook is a matter of a few tens of euros. With a few checkboxes you select your target customer. Try to get that from the local door-to-door newspaper. Which is not to say that traditional media are outdated. Attention-grabbing advertisements and weekly columns are still worth their weight in gold for every merchant.”
Patience is not given to everyone, as we all know. And patience is an important factor when you use social media as a tool. “Indeed, it costs exposure via social media time. You can use that initial period to experiment. Where is your target group on Twitter? How do you best approach them? What is accepted and what is not? What is your tone of voice, and how is your competition doing? After the period of exposure you will get it automatically influenceIn the social media funnel we call that brand awareness. After these steps, because that's how you can see it, interaction starts. Your fans get to know you, they answer your questions, congratulate you on your birthday. You are seen and read.
Traditional media therefore goes very well with social media, according to Hans Ruinemans. “Your target group should be the starting point. Young parents are on Facebook. Self-employed people are active on LinkedIn. Pensioners read the newspaper. Of course, it is not that unqualified. If you want to make noise, if you want to stand out as a merchant, you have to start by mapping out your target group. Who is your customer today? Which market do you want to serve in five years? What do you absolutely not want, because it does not suit you? Know yourself as an entrepreneur, calculate your price and recognize your market. But before you do that, you have to explore the possibilities. You are allowed to cost something. A nice assignment.”
Source: InFinance Magazine